Get Your Head Out Of The Clouds...

Am I Missing Something?

Can someone of a technical inclination answer a question for me?

With as cheap as RAM and hard drives are these days, and the price of flash memory starting to drop, we'll likely see very soon petabytes of storage in desktop packages for far less than the cost of leasing T3 lines and maintaining server farms.

Given that, why is everyone galloping towards cloud computing? Why on earth would I want to entrust data to be parceled out in snippets around the globe when I'll be able to have the Library of Congress (or its equivalent) backed up on multiple drives in multiple locations for less than what I'd pay an entry level IT tech?

Something tells me this concept was dreamed up by the same hucksters behind carbon credits...